Höegh LNG Firms FSRU Orders in South Korea
- Business & Finance
Norway-based owner and operator of floating liquefied natural gas (LNG) import terminals Höegh LNG Holdings has signed contracts with two South Korean shipbuilders for the construction of two floating storage and regasification units (FSRUs), with an option for additional three FSRUs.
The first shipbuilding contract (SBC) was inked with Samsung Heavy Industries (SHI) for the construction of one FSRU. In addition, Höegh LNG and SHI signed an agreement for three optional FSRUs.
The FSRUs will have a storage capacity of 170,000 cubic meters and Höegh LNG/Wärtsila regas plant design with a regasification capacity of 750 MMscf/day. The firm FSRU is expected to be delivered in May 2019 and the optional FSRUs will be delivered with approximately six months interval from the delivery of the first vessel, according to Höegh LNG.
The SBC for the second FSRU was signed with Hyundai Heavy Industries (HHI). Scheduled for delivery in the fourth quarter of 2018, the FSRU will have a storage capacity of 170,000 cubic meters and a maximum regasification capacity of 1,000 MMscf/day.
The company further said that the two 20-year FSRU charters with Quantum Power (QP) for the Tema LNG Project in Ghana and Global Energy Infrastructure Limited (GEIL) for the LNG import project in Port Qasim near Karachi, Pakistan will start in the second quarter of 2018.
Höegh LNG plans to allocate one FSRU, previously ordered by the company and currently under construction at HHI, to serve the QP charter in Ghana and the second one, included in the most recent SBC with HHI, to the GEI charter in Pakistan.
With the last orders, the firm said it has 10 newbuilding FSRUs in operation or under construction.